Chazen Company's inventory balance at the beginning of the year was $$8,600.$ During the year, the company had Purchases of $$56,000$ and Purchases Returns and Allowances of $$4,600.$ The company's inventory balance at the end of the year is $$6,600.$ Compute cost of goods sold for the year assuming Chazen uses the periodic inventory system.

$\backslash$table$[[$Beginning inventory$],[$Purchases$],[$Less: Purchases returns and allowances$],[$Cost of goods available for sale$],[$Less ending inventory$],[$Cost of goods sold$]]$